THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – June 11, 2013


As we look at today's setup for the S&P 500, the range is 38 points or 1.14% downside to 1624 and 1.17% upside to 1662.         

                                                                                                                      

SECTOR PERFORMANCE


THE HEDGEYE DAILY OUTLOOK - 1

 

THE HEDGEYE DAILY OUTLOOK - 2

 

EQUITY SENTIMENT:


THE HEDGEYE DAILY OUTLOOK - 10


CREDIT/ECONOMIC MARKET LOOK:

  • YIELD CURVE: 1.94 from 1.90
  • VIX closed at 15.44 1 day percent change of 1.98%

MACRO DATA POINTS (Bloomberg Estimates):

  • 7:30am: NFIB Small Business, May, est. 91.5 (prior 92.1)
  • 7:45am: ICSC weekly sales
  • 8:55am: Johnson/Redbook weekly sales
  • 10am: Wholesale Inventories, April, est. 0.2% (prior 0.4%)
  • 10am: JOLTs Job Openings, April, est. 3.900m (prior 3.844m)
  • 11am: Fed to buy $1.25b-$1.75b notes in 2036-2043 sector
  • 11:30am: U.S. to sell 4W bills
  • 1pm: U.S. to sell $32b 3Y notes
  • 4:30pm: API weekly inventory data

GOVERNMENT:

    • Obama meets w/ President Ollanta Humala of Peru to discuss proposed Trans-Pacific Partnership, other issues; will also give remarks on Senate immigration bill
    • ITC holds hearing on probable economic effect of duty-free treatment for imports in TPP free trade agreement, 9:30am
    • Senate Appropriations subcommittee hears from Defense Sec. Chuck Hagel, Joint Chiefs Chairman Martin Dempsey, 10am
    • Senate Finance Committee votes on nomination of Michael Froman to become U.S. trade representative, 10am
    • Senate panel holds hearing on Puerto Rico’s status, 10am
    • Senate scheduled to hold cloture vote on motion to proceed to immigration legislation, 2:15pm

WHAT TO WATCH

  • Softbank raises Sprint bid by 7.5% to $21.6b to counter Dish
  • Paulson, #2 Sprint holder, to vote for Softbank deal
  • Bank of Japan left unaltered 1-yr fixed-rate loan facility
  • News Corp. holders to OK plan to spin off publishing unit
  • Sony unveils PlayStation 4 console pressing fight w/ MSFT
  • Nestle’s Nespresso to face new copycat from Mondelez
  • MSCI to announce mkt classification review after 5pm
  • Goldman to expand in Poland even as economy slows
  • ANA says it canceled Boeing 787 flight yday to check engine
  • Safety net scaled back as Senate passes agriculture bill
  • EU seeks air-traffic charge cuts, challenging controllers
  • Most banks expect salary increases to offset EU bonus cap

EARNINGS:

    • Oxford Industries (OXM) 4pm, $0.78
    • Ulta Salon Cosmetics (ULTA) 4pm, $0.62

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Copper Touches a Five-Week Low on Concern About Stimulus Curbs
  • Record U.S. Soybean Crop Seen Extending Bear Market: Commodities
  • Wheat Drops a Fifth Day on Prospects for Better Crop Conditions
  • WTI Crude Declines a Second Day on Forecast of U.S. Supply Gain
  • Gold Falls to Lowest in More Than Two Weeks on Stimulus Outlook
  • Coffee Declines on Outlook for Growing Production; Sugar Climbs
  • Shale Boom Curbing OPEC’s Grip as Saleri Sees a $120 Oil Cap
  • Iraq Plans to Boost Wheat Output, Become Exporter in Three Years
  • Oil-Tanker Demand Seen Falling 5% as Bookings and Distances Slip
  • Gold ‘Triangle’ Signals Price Drop to $1,250: Technical Analysis
  • Australia 2013 Wheat Crop May Be 25 Mln T, Grain Trade CEO Says
  • Commodities for Rest of 2013 Seen by UBS Heading for 1994 Redux
  • Car Carriers Fill Up as Global Trade Expands to Record: Freight
  • Iron Ore Seen Rebounding as China Restocks in Year’s Second Half

THE HEDGEYE DAILY OUTLOOK - 5A

 

CURRENCIES


THE HEDGEYE DAILY OUTLOOK - 6A

 

GLOBAL PERFORMANCE

 

THE HEDGEYE DAILY OUTLOOK - 3

 

THE HEDGEYE DAILY OUTLOOK - 4

 

EUROPEAN MARKETS


THE HEDGEYE DAILY OUTLOOK - 7

 

ASIAN MARKETS


THE HEDGEYE DAILY OUTLOOK - 8

 

MIDDLE EAST


THE HEDGEYE DAILY OUTLOOK - 9

 

 

The Hedgeye Macro Team

 

 

 

 

 

 

 

 

 

 

 

 


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